Service Costs The following information is available for a particular consulting contract performed by Newland Business Consultants in 2009:

Newland applies overhead on the basis of client consulting hours. The estimated total overhead costs for 2009 are $6.2 million, and the estimated total consulting hours are 150,000.
Newland pays its consultants $40 per hour.
1. Compute the predetermined overhead rate.
2. What are the allocated overhead cost and the total cost of this particular contract?

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Consulting labor costs Supplies Overhead Total cost $4,000 500 ? $ ?